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Mortgage Fraud Archives
Week Ending Aug. 21, 2009
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Mortgage Fraud News
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Case Activity
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Aug. 19, 2009
Mortgage Litigation Today
Issues addressed in recent mortgage lawsuits include lending discrimination, mortgage fraud and political contributions by two of the country's biggest mortgage firms. In another case, a former employee of a failed reverse mortgage lender who was accused of stealing 56,000 mortgage leads has pleaded guilty.
read full story at MortgageDaily.com
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Aug. 12, 2009
CA Legislation Addresses Mortgage Fraud
AB 764 and SB 94, which are likely to be passed by California's legislature, reportedly address mortgage fraud.
read full story at the Fresno Bee
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Aug. 10, 2009
Reverse Mortgage Fraud Schemes
The Federal Bureau of Investigation said in its 2008 mortgage fraud report that senior citizens are being recruited through local churches, investment seminars and advertising to purchase distressed properties from straw buyers.
read story at MortgageDaily.com
Calif. Prosecutors Step Up Cases
A focus on mortgage fraud beginning two years ago has led to more criminal prosecutions by the El Dorado County district attorney.
read story at Sacramento Bee
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Aug. 4, 2009
FHA Suspends Taylor Bean
Taylor, Bean and Whitaker Mortgage Corp. lost its FHA approval, while its Ginnie Mae servicing portfolio was seized. The company allegedly hid the fact that its own auditor uncovered potential mortgage fraud on government-insured loans and failed to disclose two state investigations during the past year.
read story from MortgageDaily.com
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Aug. 3, 2009
Orange County Targets Mortgage Fraud
The district attorney in Orange County, Calif., said they plan to crack down on real estate fraud.
read full story from Examiner.com
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July 31, 2009
Judge Accused of Bias in Foreclosure Case
A loan closed by Centex Home Equity Corporation, which now operates as Fortress Investment Group LLC subsidiary Nationstar Mortgage LLC, is at the center of allegations of bias by borrower Sun-Ming Sheu.
read full story at Black Star News
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July 28, 2009
218 South Floridians Charged Since 2007
Since launching a federal-state mortgage fraud initiative in September 2007, 218 people have been in schemes involving more than $268 million.
read Associated Press story
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July 27, 2009
Miami-Dade 2nd Highest in Fraud Reports
With 5,155 reports of mortgage fraud, the Miami-Dade office of the FBI had the second-highest activity in the country during 2008.
read story at South Florida Business Journal
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July 25, 2009
FL AG Concedes Did Nothing to Stop Fraud
Florida's attorney general conceded that his agency did little to stop the more than 50,000 cases of potentially illegal real estate flipping deals uncovered by the Herald-Tribune.
read story at Herald-Tribune
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| Date |
Defendants |
State |
Amount |
Overview |
News
Publication |
| Aug. 20 |
Bradley Aydelott, Roger Ritch, William McMahan, Jonathan Henderson, Carrie Snow |
TN |
$30,000,000 |
Guilty plea. |
Times-Gazette |
| Aug. 20 |
MARK M. BENUN |
NY |
$5,000,000 |
Indictment. |
LawFuel.com |
| Aug. 20 |
Jerome Shade Howard, Jerry Emerick |
MO |
$12,600,000 |
Guilty plea. |
FBI Announcement
Kansas City Business Journal
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| Aug. 20 |
Larry Nardelli, Neil Mohammad Husani |
FL |
$83,000,000 |
Defendant appeals judgment. |
Herald Tribune |
| Aug. 20 |
Gerald Wayne Snow Sr., Gerald Wayne Snow Jr. who is also known as Jerry Snow, Ayo Dineji Olaniyan, Gaile Diana Cates |
OK |
$11,000,000 |
Arraignment. |
The News On 6
Muskogee Phoenix
Tulsa World
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| Aug. 19 |
Eric R. Krahnke, Michael I. Striker, |
MN |
$4,000,000 |
Guilty plea for former owner of Worldwide Mortgage & Investments. |
Pioneer Press |
| Aug. 19 |
Kurt Fordham, Alexander J. Chaudhry, Ali Farahpour |
MD |
losses of
$60,000,000 |
Civil lawsuit in Metropolitan Money Store case. |
Daily Record |
| Aug. 19 |
Jake David Abegg Whitman |
AZ |
losses of
$1,000,000 |
Guilty plea. |
Associated Press
KPHO
East Valley Tribune
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| Aug. 19 |
Alma Preciado |
DC |
$350,000 |
Broker and former Bush delegate became a fugitive. |
Washington Times |
| Aug. 19 |
Herbert Steed |
NY |
$1,500,000 |
Indictment. |
New York Daily News |
| Aug. 18 |
Kristina Marie Cardwell |
VA |
restitution of
$708,339 |
66-month sentence for former attorney. |
Virginia RealEstateRama |
| Aug. 18 |
Oyekunle Ikudayisi, Oladipo Olafunmiloye |
MD |
losses of
$867,181 |
6-month sentence. |
Baynet.com
U.S. Attorney announcement
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| Aug. 18 |
George Guldi |
NY |
$82,000,000 |
Former legislator charged. |
Newsday |
| Aug. 17 |
Gary L. Killian |
CA |
$1,295,000 |
Appraiser surrendurs licence. |
Californian |
| Aug. 17 |
Robert Andrew Penn, Kevin M. Lafavers |
IN |
$12,500,000 |
Indictment. |
Chicago Tribune
WTHR 13 Eyewitness News
Associated Press
Indianapolis Star
Indiana RealEstateRama
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| Aug. 17 |
Terry Louis Lemke |
MN |
$1,000,000 |
Guilty plea by owner of All Metro Title. |
Minnesota Sun |
| April 15 |
Grant Gondrezick |
TX |
24 homes and restitution of
$1,000,000 |
Guilty plea by former NBA player. |
Associated Press
Dallas Morning News
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